Question 1

Recently,Fortune magazine named Trader Joe's "America's hottest retailer" for its outstanding __________,including personal attention from employees in the store.

Accepted Answer

A)  customer value proposition
B)  relationship marketing
C)  customer experience
D)  internal marketing
E)  customer relationship managementF) B) and E)
G) A) and C)

Question 2

Entities such as manufacturers,retailers,and government agencies that buy goods and services for their own use or for resale are referred to as

Accepted Answer

A)  intermediate buyers.
B)  selling agents.
C)  organizational buyers.
D)  manufacturing agents.
E)  brokers.F) None of the above
G) All of the above

Question 3

The most likely market for cosmetic dentistry,where costs can be as much as $15,000 for teeth straightening and whitening,is

Accepted Answer

A)  toddlers with crooked baby teeth,when crooked teeth run in the family.
B)  all former smokers who have been smoke free for at least one year.
C)  anyone who has the time,the money,and the desire to undergo the procedures.
D)  anyone who has dental insurance.
E)  adults who want to make a good first impression for a job interview.F) A) and C)
G) A) and E)

Question 4

A target market refers to

Accepted Answer

A)  customers who have already purchased a firm's product at least once,have been satisfied,and are likely to be repeat purchasers.
B)  both existing and potential customers who have used a competitor's product,are dissatisfied,and who now seek a different product or service to satisfy their needs.
C)  a specific group of current consumers toward which an organization directs its advertising.
D)  one or more specific groups of potential consumers who are seeking a product for which there are no current substitutes.
E)  one or more specific groups of potential consumers toward which an organization directs its marketing program.F) C) and D)
G) A) and B) E

Question 5

Robert was running low on cash and could not buy his Marketing textbook by the first day of class if the bookstore did not accept his credit card.Luckily,the bookstore accepted his VISA card,so the bookstore created __________ utility for Robert.

Accepted Answer

A)  form
B)  time
C)  price
D)  possession
E)  placeF) B) and C)
G) B) and D)

Question 6

Those who have flown on Singapore Air have experienced firsthand the great food that is served during the flight,the friendliness of the flight attendants,and the comfortable seating.Singapore Air creates customer value by providing its customers with

Accepted Answer

A)  the best airport experience.
B)  the most convenient flight schedules.
C)  the best price for the distance traveled.
D)  the best in-flight service.
E)  the greatest sense of personal safety.F) All of the above
G) A) and B)

Question 7

A farmhand would like to buy a moped scooter to commute to his job at a nearby ranch.He doesn't know how to find a dealer though,and doesn't have Internet access.Which of the following reasons explain why marketing fails to occur here?

Accepted Answer

A)  There are not two or more parties with unsatisfied needs.
B)  A desire to satisfy a need is missing.
C)  No assessments of consumer wants and needs have been made.
D)  There is no way for the parties involved to communicate.
E)  The ability to satisfy a need is missing.F) A) and E)
G) A) and D)

Question 8

Ultimate consumers refer to

Accepted Answer

A)  the people who use the products and services purchased for a household.
B)  people who have already purchased a firm's product at least once,have been satisfied,and are likely to make repeat purchases.
C)  people or organizations that have used a competitor's product and who have been dissatisfied,and who are still seeking a product or service to satisfy their needs.
D)  those manufacturers,wholesalers,retailers,and government agencies that buy goods and services for their own use or for resale.
E)  one or more specific groups of potential customers toward whom an organization directs its marketing program.F) A) and B)
G) A) and C)

Question 9

Explain the difference between a market and a target market.Provide a specific example of each.

Accepted Answer

Potential consumers make up a market,whi...

Question 10

Describe two different target markets for two different products or services you,your friends,or your family have recently purchased or used.

Accepted Answer

A target market is a specific group of potential consumers toward which an organization directs its marketing program.In response to this question,students might define the target market for a local baseball team as people who live in the area,perhaps skewed toward males,and 25 to 84 years of age.Another interesting answer is to examine how one product,such as a Toyota 4-Runner,can have two different target markets.One target market might be the adventurous outdoor mountain biker who uses the vehicle to transport his or her equipment to the mountains to bike.The other target market might be a "soccer mom" with children and equipment to transport to the local soccer field for practice.

Question 11

In Figure 1-3 above,"A" represents __________ and "B" represents __________.

Accepted Answer

A)  decisions by management;purchases by customers
B)  employees efforts;stakeholder rewards
C)  sales department;manufacturing department
D)  suppliers;distributors
E)  discovering consumer needs;satisfying consumer needsF) B) and D)
G) A) and B)

Question 12

The __________ element of the marketing mix is demonstrated when a company places an ad in the Yellow Pages.

Accepted Answer

A)  product
B)  price
C)  promotion
D)  place
E)  processF) C) and D)
G) A) and B)

Question 13

All of the following are marketing mix strategies that Chobani has used to sell its yogurt EXCEPT:

Accepted Answer

A)  develop a new yogurt product line for kids.
B)  price the Chobani yogurt line below its major competitors (Yoplait and Dannon) to increase sales and market share.
C)  use Facebook,YouTube,and other social media to promote Chobani yogurt.
D)  rely on "word-of-mouth to reach new customers.
E)  employ a spokesperson to open a yogurt bar.F) A) and C)
G) B) and D)

Question 14

Customer relationship management (CRM) is most closely related to the __________ era in U.S.business history.

Accepted Answer

A)  customer relationship
B)  production
C)  sales
D)  marketing concept
E)  societal marketingF) A) and B)
G) B) and E)

Question 15

Which of the following people would MOST LIKELY be the best target market for tickets to the home games of the Indianapolis Colts professional football team?

Accepted Answer

A)  all people with an interest in professional football
B)  all people in the Midwest who have an interest in sports
C)  all men who played on a varsity football team in high school
D)  all people in the Indianapolis and surrounding areas interested in football
E)  all people in Indiana who watch football on TVF) A) and B)
G) None of the above D

Question 16

3M's Post-it® Flag Highlighter and Pen marketing programs were designed for what primary objective?

Accepted Answer

A)  the initial introduction of two new 3M products
B)  specific promotions to be used for long-range strategies
C)  segmenting the market into twelve specific target market segments
D)  marketing 3M products to foreign markets
E)  positioning the products relative to major competitorsF) C) and D)
G) B) and C)

Question 17

Which of the following organizations engage in marketing?

Accepted Answer

A)  the Chicago Cubs
B)  the San Francisco Opera
C)  the City of Denver
D)  the President of the United States
E)  Every organization or individual can engage in marketing to some extent.F) B) and E)
G) All of the above

Question 18

Which of the following would a marketer use as a synonym for controllable marketing mix factors?

Accepted Answer

A)  the four Ps of marketing
B)  environmental forces
C)  macromarketing forces
D)  marketing management factors
E)  micromarketing factorsF) A) and C)
G) B) and E)

Question 19

With respect to the history of American business,the __________ era began in the late 1950s when marketing became the motivating force among many firms.

Accepted Answer

A)  production
B)  sales
C)  customer relationship
D)  market orientation
E)  marketing conceptF) A) and D)
G) A) and C)

Question 20

To serve both buyers and sellers,marketing seeks to __________ and satisfy the needs and wants of prospective customers.

Accepted Answer

A)  change
B)  create
C)  manipulate
D)  discover
E)  measureF) A) and C)
G) A) and B)

Exam 1: Creating Customer Relationships and Value Through Marketing

Recently,Fortune magazine named Trader Joe's "America's hottest retailer" for its outstanding __________,including personal attention from employees in the store.

Correct Answer
verified

Entities such as manufacturers,retailers,and government agencies that buy goods and services for their own use or for resale are referred to as

Correct Answer
verified

The most likely market for cosmetic dentistry,where costs can be as much as $15,000 for teeth straightening and whitening,is

Correct Answer
verified

A target market refers to

Correct Answer
verified
E

Robert was running low on cash and could not buy his Marketing textbook by the first day of class if the bookstore did not accept his credit card.Luckily,the bookstore accepted his VISA card,so the bookstore created __________ utility for Robert.

Correct Answer
verified

Those who have flown on Singapore Air have experienced firsthand the great food that is served during the flight,the friendliness of the flight attendants,and the comfortable seating.Singapore Air creates customer value by providing its customers with

Correct Answer
verified

A farmhand would like to buy a moped scooter to commute to his job at a nearby ranch.He doesn't know how to find a dealer though,and doesn't have Internet access.Which of the following reasons explain why marketing fails to occur here?

Correct Answer
verified

Ultimate consumers refer to

Correct Answer
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Explain the difference between a market and a target market.Provide a specific example of each.

Correct Answer
verified
Potential consumers make up a market,whi...
View Answer

Describe two different target markets for two different products or services you,your friends,or your family have recently purchased or used.

In Figure 1-3 above,"A" represents and "B" represents .

Correct Answer
verified

The __________ element of the marketing mix is demonstrated when a company places an ad in the Yellow Pages.

Correct Answer
verified

All of the following are marketing mix strategies that Chobani has used to sell its yogurt EXCEPT:

Correct Answer
verified

Customer relationship management (CRM) is most closely related to the __________ era in U.S.business history.

Correct Answer
verified

Which of the following people would MOST LIKELY be the best target market for tickets to the home games of the Indianapolis Colts professional football team?

Correct Answer
verified
D

3M's Post-it^® Flag Highlighter and Pen marketing programs were designed for what primary objective?

Correct Answer
verified

Which of the following organizations engage in marketing?

Correct Answer
verified

Which of the following would a marketer use as a synonym for controllable marketing mix factors?

Correct Answer
verified

With respect to the history of American business,the __________ era began in the late 1950s when marketing became the motivating force among many firms.

Correct Answer
verified

To serve both buyers and sellers,marketing seeks to __________ and satisfy the needs and wants of prospective customers.

Correct Answer
verified

Exam 1: Creating Customer Relationships and Value Through Marketing

Recently,Fortune magazine named Trader Joe's "America's hottest retailer" for its outstanding __________,including personal attention from employees in the store.

Correct AnswerverifiedShow Answer

Entities such as manufacturers,retailers,and government agencies that buy goods and services for their own use or for resale are referred to as

Correct AnswerverifiedShow Answer

The most likely market for cosmetic dentistry,where costs can be as much as $15,000 for teeth straightening and whitening,is

Correct AnswerverifiedShow Answer

A target market refers to

Correct AnswerverifiedE

Robert was running low on cash and could not buy his Marketing textbook by the first day of class if the bookstore did not accept his credit card.Luckily,the bookstore accepted his VISA card,so the bookstore created __________ utility for Robert.

Correct AnswerverifiedShow Answer

Those who have flown on Singapore Air have experienced firsthand the great food that is served during the flight,the friendliness of the flight attendants,and the comfortable seating.Singapore Air creates customer value by providing its customers with

Correct AnswerverifiedShow Answer

A farmhand would like to buy a moped scooter to commute to his job at a nearby ranch.He doesn't know how to find a dealer though,and doesn't have Internet access.Which of the following reasons explain why marketing fails to occur here?

Correct AnswerverifiedShow Answer

Ultimate consumers refer to

Correct AnswerverifiedShow Answer

Explain the difference between a market and a target market.Provide a specific example of each.

Correct AnswerverifiedPotential consumers make up a market,whi...View AnswerShow Answer

Describe two different target markets for two different products or services you,your friends,or your family have recently purchased or used.

In Figure 1-3 above,"A" represents __________ and "B" represents __________.

Correct AnswerverifiedShow Answer

The __________ element of the marketing mix is demonstrated when a company places an ad in the Yellow Pages.

Correct AnswerverifiedShow Answer

All of the following are marketing mix strategies that Chobani has used to sell its yogurt EXCEPT:

Correct AnswerverifiedShow Answer

Customer relationship management (CRM) is most closely related to the __________ era in U.S.business history.

Correct AnswerverifiedShow Answer

Which of the following people would MOST LIKELY be the best target market for tickets to the home games of the Indianapolis Colts professional football team?

Correct AnswerverifiedD

3M's Post-it® Flag Highlighter and Pen marketing programs were designed for what primary objective?

Correct AnswerverifiedShow Answer

Which of the following organizations engage in marketing?

Correct AnswerverifiedShow Answer

Which of the following would a marketer use as a synonym for controllable marketing mix factors?

Correct AnswerverifiedShow Answer

With respect to the history of American business,the __________ era began in the late 1950s when marketing became the motivating force among many firms.

Correct AnswerverifiedShow Answer

To serve both buyers and sellers,marketing seeks to __________ and satisfy the needs and wants of prospective customers.

Correct AnswerverifiedShow Answer

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E

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Potential consumers make up a market,whi...
View Answer

In Figure 1-3 above,"A" represents and "B" represents .

Correct Answer
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D

3M's Post-it^® Flag Highlighter and Pen marketing programs were designed for what primary objective?

Correct Answer
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